NDTV Ltd. has decided to get strategic investors for its joint venture company, MetroNation Chennai Television Limited. The company which was launched in 2009, operates a news cum infotainment channel and has been making losses recently.
NDTV has a 51 per cent share while Kasturi and Sons (Hindu Group) the remaining 49 per cent in the company. The company has incurred losses amounting to Rs. 275.1 million.
NDTV Group chief executive officer KVL Narayan Rao confirmed that NDTV is considering getting strategic investment in MetroNation Chennai Television. He also added that they would be increasing the Tamil content in the channel.
The company has a total of Rs. 208.7 million in investment, loans and reaceivables. This was carried off by NDTV at book values since the management expects to be able to realise these assets in full.
The amount of capital and its possible investor however are yet unknown as Rao refused from revealing any knowledge regarding the same.